The Halal Times
Global Halal, Islamic Finance News At Your Fingertips
In Malaysia, where annual economic growth has averaged just under 5 percent over the past five years, fintech is a part of everyday life. It is rapidly becoming a central part of the country’s financial sector, with considerable promise for expansion, according to new IMF analysis. With its growing middle class, high mobile phone penetration rates, and strong government …
Let us face it. The last couple of decades have witnessed China becoming an economic superpower and supplying almost everything we consume on a daily basis. However, the Covid-19 virus outbreak may change the scenario altogether. According to The Economist, “an emotional decoupling is underway” We, as marketers, halal industry and Islamic finance professionals, have …
PETALING JAYA: The Halal Development Corporation Bhd (HDC) plans to promote up to 700 Malaysian professionals in the international market to meet the strong demand for talents with experience in the halal sector. CEO Hairol Ariffein Sahari said the talents will be needed for the companies’ halal operations as well as the exchange of technologies …
Putrajaya, – Alliance Islamic Bank Berhad (“Alliance Islamic Bank”), a subsidiary of Alliance Bank Malaysia Berhad, launched its Halal-in-One Program, a halal enterprise ecosystem to help small-and-medium enterprises (SMEs) in Malaysia to capitalize on opportunities in the halal segment. The program offers SMEs to venture into the halal space by offering end-to-end solutions such as …
Saudi Arabia’s economy shrank 0.5% in the third quarter, a contraction that was broadly expected even as the kingdom’s goal of weaning itself off crude began to pay off with solid growth in non-oil sectors. The overall economy was weighed down by shrinkage of 6.4% in the country’s oil sector, according to data released Tuesday …
The ninth International Economic Summit between Russia and Organisation of Islamic Cooperation (OIC) member countries started on Friday in Kazan, Tatarstan, with the UAE represented by a senior delegation chaired by Dr Rashid bin Ahmed bin Fahad, Minister of State. The summit, which concludes today, began with a session entitled ‘Halal Industry’, which addressed the …
The way Muslims do business is based on free-market economics, but it provides a far more equitable and sustainable economic model than the dog-eat-dog world of Western capitalism. This was a strong underlying message to come out of a recent conference on Islamic banking in Sandton. Islamic finance, which is governed by shariah (Islamic law), …
Turkey and Indonesia are working on a lender project that will operate in compliance with Islamic law. Though talks are ongoing, the project titled “megabank” is expected to contribute to Turkey’s aim to expand the share of participation banking in the Turkish financial sector. Deputy Prime Minister Mehmet Şimşek, who held a meeting with the …
Professor Binta Tijani Jibril is the Director of International Institute of Islamic Banking and Finance, Bayero University, Kano State. The head of the lone university-based Islamic banking institute in West Africa told CHIJIOKE NELSON in this interview that the model is business, ethical, not religion and about sweeping global economies with its appealing concepts. Why …
KUALA LUMPUR: Conglomerate Sime Darby Bhd has received bondholders’ approval to restructure its US$800 million sukuk, a milestone in the group’s proposed debt reorganisation, which forms part of its plan to create three independent listed companies. US$400 million of the sukuk mature in 2018 and an equal amount in 2023. Sukuk holders approved the company’s …
Customers use ATMs at a combined Malayan Banking Bhd (Maybank) and Maybank Islamic Bhd bank branch in Kuala Lumpur. The market shares of Islamic banks increased in 18 jurisdictions, indicating a growing acceptance of Islamic finance in markets with both Islamic and conventional financial systems, according to the IFSI Stability Report 2017. A new report …
Oman plans to sell $2 billion of Islamic bonds this month as it seeks to trim a large budget deficit caused by lower oil revenue, Finance Minister Darwish Al Balushi said. The crude exporter’s budget deficit will reach 12 percent of economic output this year and it will continue to narrow in the coming years, …
